The Competition and Market Authority (CMA) is looking for companies which are using big data to rip off vulnerable consumers after Greg Clark, business secretary, said he would trigger a far-reaching review into business practices related to big data, reported the Financial Times.
Mr Clark has asked Andrew Tyrie, head of the CMA, to advise him on an overhaul of Britain’s business regulation, for which he said he was ready to legislate. The business secretary said there were warning signs in the way companies had used personal data to exploit customers, such as energy groups imposing higher charges on loyal customers, who failed to shop around.
Lord Tyrie said the CMA had done “a lot of thinking” about how to reform Britain’s regulatory regime.
“The most effective competition bodies will be those that respond to the rapid growth in these new markets,” he said, adding that millions of consumers would enjoy greater choice thanks to technology, while others would still be vulnerable to “exploitation.”
Full Content: Financial Times
Featured News
Automakers Challenge Maine’s Right to Repair Law
Feb 12, 2025 by
CPI
Senators Urged to Expedite Gail Slater’s Confirmation as DOJ Antitrust Chief
Feb 11, 2025 by
CPI
Former Michigan Asphalt Executive Pleads Guilty in Bid-Rigging Scheme
Feb 11, 2025 by
CPI
Ballard Spahr Expands Litigation Team with Addition of Antitrust Attorney in Seattle
Feb 11, 2025 by
CPI
Portuguese Court Overturns €225 Million Fine for Banking Collusion Due to Statute of Limitations
Feb 11, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon